Atal Pension Yojana: The central government has launched Atal Pension Yojana to provide a respectable life to the elderly above 60 years of age in old age. A very small investment in this scheme guarantees a pension of Rs 1000 to Rs 5000 in old age. This is a government scheme in which both Indian men and women between 18 and 40 years of age can invest.
Atal Pension Yojana: Working in old age is not a wish but a compulsion for many people. But, by investing in Atal Pension Yojna (APY) you can choose a respectable life for yourself. By investing a very small amount in this scheme, a guaranteed income of Rs. 1000 to Rs. 5000 can be obtained every month. The purpose of this pension scheme of the government is to make the elderly self-reliant and give them the right to a respectable life at that age. Indian men and women between 18 and 40 years can invest in it.
The Government of India has launched the Atal Pension Yojana especially for workers in the unorganized sector. Its main goal is to make the elderly above 60 years of age self-reliant in old age. After the age of 60, a guaranteed pension is received every month according to the plan chosen by the person. This scheme is operated by PFRFA i.e. Pension Fund Regulatory and Development Authority. Under this, investors get many benefits. Let’s know about them:
Benefits of Atal Pension Yojana
- Less investment, bigger benefit: The investment amount is less if you start this scheme early. That is, the younger the age at which you start investing, the lesser will be the monthly contribution.
- Freedom to choose pension: In this scheme, investors can choose the option of monthly pension of Rs 1000, 2000, 3000, 4000 or 5000 as per their need.
- Guaranteed Pension: This is a government pension scheme. Your money is completely safe in this, because the Government of India gives full guarantee of the pension received in this.
- Tax benefits: Investing in Atal Pension Yojana offers additional tax benefits of up to Rs 50,000 under section 80CCD (1B) of the Income Tax Act.
- Benefit to the nominee: On the death of the pensioner after the age of 60, the pension amount will be given to his/her spouse. On the death of both, the entire amount deposited is returned to the nominee.
Without these documents, you cannot apply for Atal Pension Yojana
- Aadhar card
- Address Proof
- Identification Card
- Bank account number
- 10th mark sheet or birth certificate for age certificate
- An active mobile number
Know what is the way to apply
There are three ways to apply for Atal Pension Yojana. You can open an account online, offline or directly through the website of the scheme.
1. Offline method (through bank or post office)
Take the registration form of Atal Pension Yojana from your nearest bank or post office branch where you have your savings account. Fill the name, address, Aadhaar number, mobile number and nominee details correctly in the form. Attach the photocopy of Aadhaar card and other necessary documents and submit it. After this, your pension account will be opened and your installment will be auto debited every month.
2. Online Method (Through Net Banking)
You can also apply for pension scheme online through net banking. For this, open the net banking page and after clicking on the social schemes option, click on Atal Pension Yojana. Submit the required information, pension option and nominee details in the form available here. The bank will ask you for permission for auto debit, after which your registration will be completed. After this you will get a Permanent Retirement Account Number (PRAN).
You can also apply from here
- You can also apply for the pension scheme from the website https://enps.nsdl.com/eNPS/NationalPensionSystem.html.
- After clicking on this link, go to the Atal Pension Yojana tab and click on APY Registration.
- After this, choose the option of new registration and after filling the form, click on Continue.
- Fill in your details in Complete Pending Registration and complete KYC.
- After this the Acknowledgement Number will be generated.
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